Australian Financial Services Licensing (AFSL) Forum

Home Forums Australian Financial Services Licensing (AFSL) Forum AFSL requirements for Financial Services launching page/register your interest

This topic contains 1 reply, has 2 voices, and was last updated by  David Court 6 years, 10 months ago.

Viewing 2 posts - 1 through 2 (of 2 total)
  • Author
    Posts
  • #4188 Reply

    Hi,

     

    Would I require an AFSL for the set up of a website for people to register their interest (launching page) regarding a future company that will be set up to offer Financial Services?

     

    Regards

    Martin

    #4190 Reply

    David Court
    Member

    Hi Martin,

    Thanks for your question.

    Your question raises a range of regulatory issues and we don’t have enough information to provide a complete answer.  You should obtain legal advice about your specific circumstances.  You need to be quite careful when marketing a business that hasn’t been established yet, especially when it may require an AFSL but does not yet have one.

    You will need an AFSL before you can provide any type of financial product advice.  Financial product advice is any “recommendation or statement of opinion, or a report of either of those things, that is intended to influence a person or persons in making a decision in relation to a particular financial product or class of financial products…or could be reasonably be regarded as being intended to have such an influence.” (s766B(1) of the Corporations Act).

    Most marketing of financial products and services falls within the scope of financial product advice – after all, the advertising wouldn’t be very effective if it didn’t influence people to purchase the financial product.  So if your website will include any type of financial product advice, you will need an AFSL.  You will also need to make sure that your website meets all of your other obligations, such as not being misleading or deceptive and meeting all your privacy obligations (if you are collecting personal information).

    If you wish to discuss further, please contact our financial services team who can assist.

    Partner: David Court

    Co-contributor: Megan Jaksa

Viewing 2 posts - 1 through 2 (of 2 total)

Reply

Reply To: AFSL requirements for Financial Services launching page/register your interest

Your information:


<a href="" title="" rel="" target=""> <blockquote cite=""> <code> <pre> <em> <strong> <del datetime=""> <ul> <ol start=""> <li> <img src="" border="" alt="" height="" width="">

  • Free answers to common Financial Services Regulation (FSR), Consumer Credit and AML/CTF issues.

    Click here to join our LinkedIn group for responsible managers and compliance professionals.
    joinUsOnLinkedIn
  • Training

    Regulatory Compliance Training for Directors, Responsible Managers and Compliance Staff

    View Courses

  • Legal Advice

    Review your AFSL or ACL disclosure documents, conduct a licensee audit and more…

    Get Legal Advice

  • Compliance support

    The HN Hub – an online platform built to support Responsible Managers and Compliance Staff

    More